Unlike other giant tech companies, Huawei is not publicly listed. This means to say that, among other things, it is not required to divulge its financial details to the public. The truth is, the Chinese tech and telecom titan has not released its books to the public until just recently. This raises many eyebrows considering how convenient it is with the blacklisting and ban imposed by the US government.
In fact, Huawei's recent move was considered by many financial analysts as a smart strategy. As a way to prove that despite the current brouhaha with the US government, it still manages to operate successfully. Based on its latest report, the Chinese tech giant maintains a steady growth in its smartphone business in the third quarter of 2019. It can be recalled that the US government placed Huawei on a blacklist. This prevented US companies from selling goods, such as software or hardware, that were made in the US for the Chinese tech giant.
Eventually, the US government made several adjustments to the blacklisting and provided some exemptions. It even gave Huawei a three-month leeway. While many predicted the bleak future of the Chinese company, given the circumstances, Huawei proved to the world otherwise. When Android apps and OS are prohibited from being sold to Huawei, the company made its own operating system and released some of its devices running on HongMeng OS.
According to the latest financial report of Huawei, between January and September 2019, the company was able to ship over 185 million smartphones. This figure represents a 26 percent increase compared to the same period in 2018. New York Times reported that this percentage amounted to around $86 billion, which is a 25 percent increase in the year-on-year revenue of the company. The report also adds that Huawei has an estimated sales growth in the third quarter alone of around 27 percent compared to the 13 percent it achieved in the same period in 2018.
The figures definitely overthrow all the gloomy predictions, and analyses analysts foretold about Huawei earlier. This is also the exact reaction that the Chinese tech giant would like the public to have. With the financial data now available to the public, the last remaining quarter of the year will be the most telling, considering that the Google-less Huawei Mate 30 has already been released to the public. We also suggest that you take this financial information with a grain of salt.
Huawei is not a publicly-traded company, and unlike these companies, it only chooses to disclose what it wants the public to know. It omits all other details and factors that could affect the overall interpretation of the figures in its books.
